November WTI crude oil (CLX25) on Thursday closed down -0.81 (-1.39%), and November RBOB gasoline (RBX25) closed down -0.0227 (-1.24%).
Crude oil and gasoline prices gave up an early advance today and retreated, with crude sliding to a 5.25-month low and gasoline sinking to a 4.5-year nearest-futures low. Crude prices tumbled on Thursday after the weekly EIA report showed that crude inventories unexpectedly increased and US crude production rose to a record high. Losses in crude accelerated Thursday afternoon on speculation that Russian oil supplies will continue to flow after President Trump said he'll meet with Russian President Putin to discuss ending the war in Ukraine.
